Two weeks ago my insider sources started to feed me with negative news regarding the future of American IronHorse Motorcycles Company. The only one I published last week was that the company seemed to be idling, not building bikes. When in May 2008 a U.S. bankruptcy judge in Fort Worth agreed to the sale of defunct American IronHorse Motorcycles to Scott Meyers for $6.7 million (with a total cost for the acquisition in excess of $8 million because it included liabilities in the form of warranties on existing bikes), the purchase was financed by $2.5 million of Scott own money and a $6.7 million line of credit from Textron Financial, American IronHorse’s main lender.
Now, it is rumored that Scott Meyer is fighting (suing?) Textron Financial (who is still owed millions by AIH) for dumping AIH bikes at auctions or via Renegade Cycles (new name of dealer IronHorse Of Texas). In addition, in December 2008 Textron Financial Corporation already announced plans to exit all of its commercial finance businesses, other than that portion of the business supporting the financing of customer purchases of products manufactured by its parent company, Textron Inc. So, does it mean that Textron is no more floor financing the remaining AIH dealers? A lender trying to get back his money asap, no bikes produced and no dealers financing… Could it get worse? I am convinced that Scott Meyers’s intentions were great when he decided to acquire the defunct American IronHorse, to the point that he even got rid of his own successful dealership in Minnesota. But I always thought that his acquiring deal was a terrible one. I invite Scott to provide my readers with all information regarding his company. To Follow….(picture of Scott Meyers)
AIH is DEAD & they have been DEAD for over a year. Now it’s time to bury the body! Enough already!
Before buying this company, Scott Meyers should have realized that no one could recover from the terrible image AIH bikes acquired from its previous owner. The worst deal in bike biz.
Does this seriously surprise anyone? I mean come on this has been a smorgasbord of reacurring issues and it is time they are left behind 110%
That sucks for Myers, but everybody knows you don’t jump ONTO a sinking ship. Oh well, life goes on.
With the “deal” Meyers made with the bankruptcy court there was absolutely no way this could have turned out any different … the numbers were never there. Hopefully AIH will go the way of so many others and allowed to rest in peace!
Over & Out,
Jeff
It’s refreshing to see how happy everybody is to see somebody fail. Screw everybody that will lose their jobs too, who cares right? I wonder if you would feel the same way if it were your job or company at stake?
I do feel for the employees that had no voice in how this company was run or not run, whichever you choose. I also feel the more of these big OEM companies we see lose out the worse it is for the industry as a whole. It tends to shake the confidence of the retail buying public. While I’m not a fan of any of the big box so called “custom” OEMs, it’s not good for any industry to lose big players. It also shows how shaky this industry is right now with BD also in some suspended work schedule and the HD dealers all have way too many bikes on the floor. Hopefully the ones that really should be in this industry will be able to weather the storm and remain standing at the end of the day.
Bobfather,
….I do feel for the employees that had no voice in how this company was run or not run, whichever you choose……
Give me a break! AIH is a privately held company. The AIH employees have nothing more at risk than their paychecks. Therefore, in my humble opinion, if the employees of AIH (or any other privately held corporation and/or company for that matter) wants a seat at the table and a voice in company operations then they should be prepared to belly up to the bar with their check books and be willing to write a check in an amount equal to the amount of “say” they wish to have in the management of the company … in other words buy some stock and attend a shareholders meeting.
I will be willing to bet that the “employees” of AIH will find other jobs way quicker than Scott Meyers will find the $3-4 million dollars he has lost in this venture.
Over & Out,
Jeff
Jake,
Ok so apparently you do not own your own company and are most certainly a paycheck popper. You do not know a damn thing about what it takes to own a business nor do you understand the mental strain it puts on oneself. I feel you need a reality check and need to see the light at the end of the employment tunnel.
Owning a business is not as simple as being an employee. As an owner you are the last to get a paycheck, if you even get one that pay period, the first to arrive and the last to leave. You are the one who has something to lose besides just a job and you are the one everyone looks at for answers or to blame.
As an employee you arrive at your designated time, dilly dally around while doing your job (most of the time), go home at your designated time in which the last 15 minutes or so you are so useless you may as well head home any fucking way. You get a paycheck every 2 weeks no matter what, some cases 3 or 1 weeks, you deposit it in the bank and you go on your merry way with your guaranteed vacation time, weekends or days off every week. etc. Employees have it made! But where is the pride in all this? Knowing you are helping out build something in a company? thats cool and all but what is it like to not have to risk your lively hood and your family life? Must be nice!!!!
So Jake, tell me. What do you feel about what I said? I am waiting for an ever so bitter and yet tasteful responce back from you. I wait with anxious tides of white and black flowing across my TV screen as I realize I just left the shop at 10pm on a thursday night when all the employees left at 5pm. Sorry chap but you needed a dose of what business is like besides from the employee standpoint.
So for whatever anyone else thinks here I go on my final standpoint. If you want to gain respect and be the biggest baddest company around, do it right. Do not do loans or become public, do not make yourself bigger than you are. Allow time to build strength and fortify your company to where it is a solid, free flowing, debt free and respected company. Build a great product and trreat everyone with respect.
Now you are thinking whoever Conrad is he is an asshole. I am an asshole but I am also one that all the employees at my fathers companies enjoy having around as a fellow employee, Manager at times, friend and the owners son.
AIH did not do this.
Nor have so many others who handout to their employees and are not strict on quality standards, money saving ideas and overall business technique.
The End
Have a great Friday everyone, dont bitch at your boss because, remember, they may not even be getting a paycheck this week.
Conrad Nicklus ( the stupid 22 yr old)
If you read my statement you would see I was speaking about the company as well as the employees. When Mr. Nicklus said “Hopefully AIH will go the way of so many others and allowed to rest in peace!” I should have clicked on your site first then I would have realized you were competitors and understood your wanting them out of the game.
How does all this work out with Charles Strand of Renegade Cycles ? Wsn’t he the biggest dealer and top seller of AIH ?
I can’t believe that Scott did not do any Homework! Everybody saw where AIH Whored out every last Part and Gave away every thing of value Cheap, cheap. How does one come to want to Build $30,000 Plus Bikes in this World ! Even Harley Dealers are Discounting Bikes. My Old Lady worked at a Harley Dealer in Financing and $15,000 was all the Public wants to pay for New Harley’s! The Dealers that are left with Old AIH Bikes are selling them for less than 20K. It sucks for guys like Scott trying to get His money back! He has enough chance as all the Ponzy Victums!
Usually don’t chip in here, though I love the site. Guys, I own a small business. It is hard work. My employees always get paid. Usually I get paid, and of course, sometimes I get paid very well.
I don’t understand the anger here. Capitalism works when people take risks. Some companies fail for reasons other than the quality of the business (trade shows suffered in NY after 9/11; companies that put on trade shows lost money through an unexpected event).
Scott trying to make AIH work does not make him a Ponzi. A company failing does not make him a bum. And people trying to find the right price point aren’t all evil. C’mon guys, give us a break. Be happy. Anyway, beautiful day near Gettysburg, so I am going for ride on one of my four bikes (2009 Street Glide). So, all the harley bashers can now comment on what I am riding. But I love many, many types of bikes. I enjoy riding. I enjoy blues music, so today I am riding with some tunes. I will wave to other riders. I love Cyril’s bikes and his website and I hope that I make enough money at some point to own one.
See ya!
Damn, If owning a business is so much hassle QUIT!!! Plain and simple it takes both business owners and employees to make a business work. If you have a problem with your employees fucking off, fire them… The concept is pretty simple. He with the bread makes the sandwiches. I have been on both sides of the table. The both have their rewards in their own right.
Although an employer does have stresses an employee does not have to share, do not think the employee does not have their livlihood or family at risk with any job. I do not know many people who are actually working just for the fun of it. I feel for the employees that will lose their jobs, and all, but who did not really sde this coming? They should have been shopping themselves around way back when this deal went down to begin with. There has never really been any security in this business plan. Just another fine example of some schmuck with more money than brains. What is the old saying…? A fool and his money are soon parted?
A$$HOLE,
I agree 100%!
Jake,
I believe you missed what I was saying …. I do not wish AIH to fail! However, if they are going down the tubes let them go with some dignity. Let a dead horse sleep! It is impossible to make a business successful by throwing money at it …. use the United States Government as an example! I just hope that AIH does not follow the same path as so many others such as Titan et al.
Further Scott Meyers knew what he was getting into when he made his proposal to the Bankruptcy Court. AIH had been dumping bikes for over a year prior to him getting into the picture so shame on him for making the deal he did. Now that the deal has blown up in his face it is time to place blame on anyone other than himself …. how does he do that …. via the court system ….. I suppose that is the American way these days.
Just my opinion.
Over & Out,
Jeff
Afool and His money are soon to be seperated is the truth sometimes. I didn’t say that Scott was a Ponzi, Freedomlaw! I sais His chance of getting His 2.5 Million of His Money treturned to Him, is about the same Chances as the Investor’s in the Ponzi Scam’s are! You need to stop smoking Dope on those Rides, Freedomlaw!
sounds like a 22 yr old is more of an employee who “inherited” Dad’s business to run. It also sounds like he is jaded already.
repeating…
“Damn, If owning a business is so much hassle QUIT!!! Plain and simple it takes both business owners and employees to make a business work. If you have a problem with your employees fucking off, fire them… The concept is pretty simple”
“Although an employer does have stresses an employee does not have to share, do not think the employee does not have their livlihood or family at risk with any job.”
Jack.
Not jaded but realistic. Like I said I am an asshole, I am a perfectionist and things will be done my way when I am in charge. Its the same when my dad is in charge, 95% of the time, I listen to him as well as the employees. That is how business works.
It isnt a matter of a business being a hassle..It is the fact that you did it on your own, you started something which was small and only 1 person and turned it into something with 50+ employees, respect and people knowing you in a positve way. It is worth the hassle, it is worth the time, it is worth the headaches and most of all it is worth the struggle.
After having to pay for every bit of warranty work that was done on my 2006 Texas Chopper I for one look forward to no more American Ironhorse. I have been hosed by them for the last time.
Hey Jeff & Conrad, you guys going to be at the ROT Rally? I’ll buy you a beer. Well maybe not Conrad, lol.
Jake,
We will be there. IWe will be set up in our usual spot and I will also be a celibrity judge in the Bike Build Off contest. While I appreciate the offer of a “Free Beer” I will have to stick to a Diet Coke as I am involved in the Biggest Loser Contest.
Over & Out,
Jeff
Read Atlas Shrugged by Ayn Rand. Get a life.
The BIG news is that Titan was in Laughlin and Harley wasn’t
Jake,
Some shocking news to most here. I wont drink Domestic beers, I only like Imports and that only being one beer actually, Dos Equis. !!!
Rodent,
How I am shocked Titan was even there,
titan seems to never go away, its like a bad penny.
I am with you Kenny ….. Titan must be a descendent of Jason .. the star of the Halloween Movies …..you can’t kill it off!
Over & Out,
Jeff
I still don’t understand why this keeps being a surprise to everyone here.
What part of “nobody is buying choppers, almost bankrupt brands and expensive motorcycles” don’t you guys understand? Even if the bike line is nice, if nobody can finance it, there is no way a retail customer or a dealer can afford to buy/sell it. End of story.
Until the bank problem we have is resolved, this industry won’t go any further, at least not the way it is intended to. All this is (as usual) a combination of bad economy, wrong marketing decisions, a little bit of bad luck and the incompetence of the people trying to run the show.
Titan… hahahah don’t make me laugh… I didn’t even think they were still in business until I heard they are trying to rip of some people in Europe with a TUV approved bike.
AIH only has about 7 employees left. Jeff Long the worthless man-servant being the last of the original Rucker era crew. So lets see, there is Scott and his wife, HR and Accounting, a guy pulling parts, and a warranty guy. What I wonder is who is the marketing spin genius the keeps up the horrible web prescence. THAT guy should be the next one fired.
Build your own and then it is truly unique.
Titan has been slummim the seen for over a decade,gotta give it to them they will never throw in the towel.Like a neighbor that won’t go home.
If you all will remember some murdered Donn Proudfoot a few months ago …. you can bet your last dollar it was because of his dealings with Titan.
Over & Out,
Jeff
That would be “someone” ….
Over & Out,
Jeff
Mr. Nicklus, you might have gotten it right with “some”.
Guys, Love the blog & have never responded. I hate to see any business go down especially one in this industry. The big so called custom OEM’s are needed to help keep this business alive. AIH, I hate to see go down like Indian or Titan. As far as Titan’s, I had one of the good ones from the late 90’s. Never had any issues with it and wll not knock them. Hated to see them go under again and again. Thought they were out of business for good but guess not. Not everyone can afford a $50K bike or more so the Big Dog’s, AIH, and the like are needed. Hopefully when this economy turns around everyone will be happy again.
I know all to well about being a small business owner and also a employee left out in the cold. I worked for a major computer manufacture for almost 8yrs when they had a huge lay off a few years back. They are still laying off and thousands more are still wondering if they will have a job next week. Thats when I took my leap. Yeah, the employees gets paid every week while I do get paid some weeks and sometimes I have to wait but that it is part of it. If you take care of your employees most of the time they will bend over backwards for you.
Stuart
Times are tough in the custom bike industry, you have to be smart, work hard, and offer something a little more affordable, or a little different than your competitiors….or be a little smarter in the sales side, btw, did anyone see Swift there?
At laughln i mean
Swift ????? Is this their week to rise from the dead or is that next week?????
Over & Out,
Jeff
Jeff, that is an interesting comment!?.. Swift never died, nor left, they just didn’t blow all their money on advertising.
I happen to own a 2004 Texas Chopper. S/S motor is fine. Runs fine and looks good to me. I hated to see AIH fail. Not a good thing.
I just wish I know who’s transmission they used in on my bike. Nothing wrong with it, just curious.
In 2006 the year of my Texas Chopper they used Roadmax transmissions.
I feel so bad for Scott Meyer. A nice guy who got screwed by Textron!
Textron has screwed me too!
I can’t believe Titan was at Laughlin!
Totally illegal. You have to have a licensed dealer to sell bikes in Nevada.
Titan screwed the Nevada dealer and is not allowed to conduct business
in Nevada until they’ve cleaned the complaint up at the DMV!
I wish Bill Rucker would have won the bid on American Ironhorse.
He’s cute from the same cloth as Textron!
Sorry Scott….the nice guys always get the raw end in this business!
cut NOT cute
Scott screwed himself. You think he is nice, Blue Sky? Do you know how he closed his shop in Minny? No notice to the employees at all. Had the doors locked, and let the employees find out when they couldn’t get in the door the next morning. Once in Texas, he surrounded himself with a host of ass kissers. You only think Textron screwed him. I doubt you were privy to the actual agreement between Scott and Textron. And by the way, a local attny says AIH2 has filed for BK. But that’s a rumor
After Boudreau, Dwayne Moyers killed Ironhorse. Textron wasn’t the answer nor was increasing salaries.
Not sure how anyone could think Textron screwed Scott. Textron loaned him money and he breached the terms. Thye then were allowed to sell the repo inventory by what ever means they saw in their best interest… plain and simple.
AIH2 has filed for Chap. 11 BK protection 3 weeks ago and has no chance of surviving, mainly because they have no clue what they are doing.
AIH2 is suing Textron and their largest Dealer, Renegade Motorcycles as a last ditch effort to hang on, but has no case.
NRC that recently bought Titan and Chrome Horse is seeking to buy AIH2, but will be buying it from Textron as that is who holds all the secured debt. They have their own consumer finance source and dealer flooring source… and they are looking for a business not a hobby like Scott and crew.
As for Scott… good ridence, he’s an idiot and a coward.
I believe that IronHorse should not have spent all the money they spent on their dealer meetings, and definitely should had a better warranty system for their products, Should not have grown so quickly, and stuck to their promises of only 1 dealer in certain areas. All these things would have made AIH a better manufacturer, better products and would have had more operating capital.
I knew I bought the right bike when I pulled into the local Harley Davidson dealer & cleaned the place out… even the staff was outside looking. I own a 2007 Tejas, I am disappointed that the company is doing poorly, however, it just makes my bike that much more desirable.
I have an ’07 Texas Chopper and the first 2 years were rough with breakdowns and warranty issues, however I am now in the extended warrenty from a good company. I think I have gotten all the bugs worked out, but I wish the air ride system was worth a damn. I am 265lbs and my wife is always around 125…whenever I last changed out the air shock and was only riding solo I had no problem..now after only 1 ride 2up I am leaking down again….WTF! well time for a new shock and the old lady has to ride her own.
As for AIH.. I hate to see them go but as stated earlier if they had a better product and decent customer support I think they would have been a good company. The economic crisis just did them in..as with so many businesses. Maybe it is just better to fade away………
As the former GM of an AIH dealership, I know, first-hand, the difficulties of the brand and the underhandedness of Textron. Scott Meyer should have done ALOT more research before dumping good money into bad. Hindsight, eh? Scott, I’ve got a bridge I’ll let go for a cool $2M!
So what do you guy think about buying a NEW 07 Judge or Legend??
There’s a shop here that has them for for $14,900 and $16,900…..the only thing is your not going to get a warranty of any kind..
????
this was coming for avery long time,Iworked for AIH in 2003,and alot of things were starting to to go sour back then. If the so callled board of directors would have listened to Mr.Bill Rucker,(chairman of theboard 2003)the company would have not taken a turn for the worst. Im not going to get into details but those responsible for asking Mr. Rucker to step down,I hope youthe worst also,you know it was a big mistake letting him go.but he fooled your dumb ass, and went out and started yet another successfull company.I just dont get it, why did you try to fix something that wasnt broke. you also Let Mr. Tim Edmonson resign,another big mistake.alot of people are sympathetic to your situation Mr. Meyers,I personally hope you can recover somthing of your loss, I do believe you can,by getting rid of the current administrtion staff and starting over with out al of those illlegal aliens on the production line. The sales of clothing and apperal came too soon,after motorcycles were successfully selling. They got greedy,and wanted to become Harley-Davidson, ssssorry but it takes one hundred years to be that successfull.